PayPal (NASDAQ:PYPL) Price Target Raised to $68.00

PayPal (NASDAQ:PYPL) had its price objective increased by Sanford C. Bernstein from $66.00 to $68.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the credit services provider’s stock.

Other equities analysts have also issued reports about the stock. UBS Group lifted their target price on shares of PayPal from $56.00 to $63.00 and gave the company a neutral rating in a report on Friday, March 1st. Evercore ISI boosted their price target on shares of PayPal from $56.00 to $60.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. BTIG Research reissued a neutral rating on shares of PayPal in a report on Friday, January 5th. Wells Fargo & Company boosted their price target on shares of PayPal from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Finally, Wedbush reissued an outperform rating and issued a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $70.47.

PayPal Price Performance

NASDAQ:PYPL opened at $62.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $65.37 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The company has a 50 day moving average price of $62.27 and a 200-day moving average price of $59.90. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Equities research analysts forecast that PayPal will post 3.93 EPS for the current year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. State Street Corp lifted its position in PayPal by 2.7% in the first quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after buying an additional 1,202,956 shares during the last quarter. Geode Capital Management LLC lifted its position in PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after buying an additional 235,651 shares during the last quarter. Morgan Stanley lifted its position in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after buying an additional 17,120,572 shares during the last quarter. Finally, Norges Bank acquired a new position in PayPal in the fourth quarter valued at about $1,022,333,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.